SmiLe Incubator's angel investment company, SmiLe INJECT Capital, invests 2 MSEK in Manje Health, an incubator company that develops a digital platform for finding and booking specialised treatment for chronic diseases throughout Africa. The investment is the first for SmiLe Inject and the money will be used for the launch of the platform.
Chronic disease conditions such as cancer and diabetes kill millions of people globally every year. WHO estimates that Africa will record 28 million deaths caused by CDCs by 2030. Early detection, treatment and management are crucial, but today there is no easy way to find information, contact hospitals and book appointments with specialists. Manje Health, founded by Prudence Mafuta Persson and Max Ehle, has built the largest hospital database in Africa, making it possible for the first time to find hospitals and discover specialised healthcare across the African continent - in one platform, in just minutes. The service is primarily aimed at the African diaspora, ie. people who have emigrated from Africa, mainly in Europe but later also in other parts of the world, who financially support families and relatives when it comes to unforeseen expenses such as healthcare.
The company is now raising capital to launch the platform towards the first target group in Scandinavia, consisting of approximately 500,000 Africans, so that they can easily find and finance specialist care for their relatives in Africa. The expectation is to have grown the number of hospitals connected to the platform from 156 to 270 within 18 months.
“I am very pleased to be able to present SmiLe Inject’s first investment of 2 MSEK in Manje Health and the fact that the founder is a woman makes it extra special. There is great potential in Healthtech in Africa and Manje Health has identified a completely new target group with a great need for digital e-health solutions. With a strong founding team, a clear vision and a scalable business idea the company has great potential to succeed, and I look forward to following the development,” says Ebba Fåhraeus, CEO of SmiLe Incubator.
The investment decision is based on a recommendation from SmiLe Inject's investment committee, consisting of a number of professional investors. The committee highlights a strong founding team that has knowledge of the market, good opportunities to reach set milestones, has identified a new target group in e-health and works actively to support the development of healthcare in Africa.
Manje Health is one of six companies that have been chosen to present at Dagens Industri’s ‘Female Founders’ pitch event on November 24th.
About SmiLe INJECT Capital AB
SmiLe INJECT Capital is the first angel investment company in Sweden that focuses solely on promising early-stage life science companies. Through INJECT, private investors are being offered the opportunity for the first time to benefit from SmiLe’s comprehensive life science expertise, international networks and unique insights into early-stage life science companies. The financing is provided by experienced business angels along with the state-owned venture capital company Saminvest.
For more information, contact:
Ebba Fåhraeus, CEO of SmiLe Incubator, tel: + 46 734000433
Prudence Mafuta Persson, CEO and co-founder of Manje Health, tel: + 46 703607623
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe helps entrepreneurs commercialize their ideas. There are currently 25 companies in SmiLe which, together with alumni companies, have attracted more than EUR 460 million in venture capital to date since 2014. SmiLe offers excellent business coaching, a broad international network of contacts and a dynamic community, as well as well-equipped laboratories which is unique of its kind in Sweden. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Awa, Høiberg, Prevas, Setterwalls, Zacco, Aqilion. SmiLe’s listed alumni companies have a market capitalization of EUR 1,3 billion (Q1 2021). www.smileincubator.life